BTR Investment Gets a New Player With AJ Capital Announcing Plans

Its Outpost Residential platform eyes several Southeast markets.

The move toward providing a full-amenity, premium product in the single-family rental market is booming across the United States.

Adventurous Journeys Capital Partners (AJ Capital) is among the latest to capitalize. It announced its Outpost Residential platform and plans to build in in Foley, Ala.; Savannah, Ga.; North Myrtle Beach, S.C.; and Austin, Texas.

Last year, Outpost Residential started construction on a high-amenity 247-unit community in Foley with leasing beginning in the first half of 2023.

Additional communities are anticipated in Charlotte, Nashville, Tampa, and Charleston, S.C., amongst others. Outpost estimates 1,200 homes per year across the Southeast and Texas.

“We look forward to rapidly growing our presence across the Southeast and Texas and welcoming our residents in the years to come,” Hal Hayes, president, Outpost Residential, said in prepared remarks.

For the first time ever, in Q4, there were more “units built-for-rent” (BTR) started than “units built-for-sale” started, according to the Calculated Risk blog, based on data from US Census Bureau, GlobeSt.com reported.

BTR production was up 15% in Q4 2022 compared to Q4 2021. Single-family starts were down 34% in Q4 2022 compared to Q4 2021.

Earlier, Halstatt Real Estate Partners broke ground on a third build-to-rent development in Fort Myers, GlobeSt.com reported, although rent growth in this sector is slowing.